Technology Minerals to acquire the remaining 52% stake in Recyclus Group for £40m.

Technology Minerals, a UK-based company looking to create a circular economy for battery metals within one group, agreed to acquire the remaining 52% stake in Recyclus Group, the UK's first industrial-scale lithium-ion battery recycler, for £40m. "The acquisition of Recyclus marks an important strategic move for the business with the potential to deliver significant shareholder value to both sets of shareholders. The combination of the two businesses offers a differentiated, IP protected exposure to battery processing, aligning the enlarged business with the energy transition taking place and the circular economy. Our plan is to expand its commercial footprint in the UK and also the EU and US markets where we see the prospect for growth in line with the exponential growth in the electric vehicle markets and other battery-based sectors," James Cable, Technology Minerals CFO.